In a recent announcement, Coinbase revealed its plans to include Ronin, a top 100 altcoin, in its trading platform. The digital currency exchange is known for the significant impact its listing decisions have on cryptocurrency values often leading to price surges. With the inclusion of the Ronin token, which holds the 93rd position in market cap rankings, the platform is expected to begin trading in phases, initially featuring RONIN-USD pairs, contingent on meeting liquidity prerequisites.
Listing Schedule and Procedures
The integration of Ronin into Coinbase’s trading ecosystem will commence around midday ET on March 21, 2024, subject to the availability of adequate liquidity. Users are cautioned to transfer assets exclusively using the Ronin network to avoid potential losses. The regions supported for trading will be limited, and phased trading will occur once a sufficient supply of Ronin is secured.
Ronin’s Market Performance Pre-Listing
Prior to the announcement, Ronin’s price had been trailing in the market, dropping by 17% over the past week. However, following the news, the token’s value experienced a 10% uplift to $3.65 before settling at $3.52. This price movement has been closely observed by investors, especially given Bitcoin‘s recent bullish trend.
Alongside the price increase, Ronin’s market capitalization surged past the $1 billion mark. Trading volumes skyrocketed as well, with a 4% hike pushing it above $74.5 million, indicating vigorous investor activity in anticipation of the listing. The token is also progressively inching toward its all-time high from March 13, 2024, now only 27% shy of this peak. Observers speculate that further advances in Bitcoin could further catalyze Ronin’s ascent.